Planning to get my first Home in Columbia (Orangeburg, Summit: 2009, rent)

[optimus124]

Hey Everyone,

I'm working out of Blythewood and living in Orangeburg. Planned on a move in 2009, but gas is trying to make me act a little faster. I would like to find a place within 20 mi of location. My price bracket is around 100K give or take 15K. This is gonna be my starter home, so I don't need something big as it will be just me and my car. Any areas that come to mind? I am pretty knowledgeable of the area, but not for homebuying reasons. I would also like to know the cost of utilities and such.

Thanks

[waccamatt]

Optimus, I live in the Eau Claire area of Columbia and there are some slight fixer-uppers in good parts of Eau Claire for under $100,000. You won't find a large home in that price-range, but there are some good prices still to be found. The area is accessible to 277 and an easy drive to Blythewood. It would be difficult to find a starter home in Blythewood or NE Columbia in that price range.

[Brandon Hoffman]

You should have plenty of choices. Utilities bills can vary depending on how energy efficient a home is. Normal expenses will be property taxes, insurance, cable, internet, utilities, sewer, and water. Home payments are usually lower than rent payments for an equivalent property even with the bills. You'll probably want to go State Housing if you qualify and couple with a FBA home loan grant if you can. If you are closer to Blythewood you can probably get rural which is even better than state housing but I'm not sure you can still couple the FBA grant with it. With state housing/FBA you get up to $15,000 in grant money for a down payment. With rural/FBA you can get up to 10k.

[ann onymous]

I hear that condos and townhomes are not popular in Columbia and that although there is a growth of townhome communities, they will not see much of any appreciation. Can anyone offer any truth to that?

[waccamatt]

Originally Posted by ann onymous

I hear that condos and townhomes are not popular in Columbia and that although there is a growth of townhome communities, they will not see much of any appreciation. Can anyone offer any truth to that?

I wouldn't say they aren't popular, but you won't normally see quite as much appreciation in a townhome or condo as you will with a single family home in Columbia, but there are always exceptions. On the flip side, you can usually get an existing condo or townhome at a more reasonable price.

[Brandon Hoffman]

Originally Posted by ann onymous

I hear that condos and townhomes are not popular in Columbia and that although there is a growth of townhome communities, they will not see much of any appreciation. Can anyone offer any truth to that?

The cost is usually lower, but the monthly payment is usually not because of regime fees. It really depends on what the regime fees cover though. Sometimes they are high and provide very little of benefit, sometimes they cover sewer/water/cable/trash so it all varies.

Without a doubt, appreciation in condos and townhouses is nowhere near a house.

[jkwing]

You can buy in the NE Summit sub-division for around 100k and have a very nice neighborhood with plenty of amenities. Swimming pools, parks, tennis, walking trails,

only 20 mins to blythewood

[optimus124]

I have some family that live in that area. It's not too far from the office. Not trying to go ballin out of control on the first home.